[WASHINGTON D.C.]

By Debra Roth

Drive around the Washington, DC, area and standing between blocks of high- and mid-rise condominiums in the hottest neighborhoods will be facades blending with historic Colonial and Victorian structures, shining new, but unfinished.

Some will be completed enough that one notices draperies, potted plants in the window, or a painting on a perfectly painted wall next door to rooms with lights on and not a speck of furniture.

Seems like prime time, then, to help a developer finish a project and move on to other things by offering buyers drop-dead prices, right? Washington, DC, condos for sale cost less than in the last few years in most cases, but the strong DC economy is one reason a number of developers are holding out. The thing is: They've been holding out so long by now that they can't pay back their loans. Highly motivated to sell, the time is ripe for deals, but the deals to be found won't necessarily be lowered prices.

Real estate records document sale price, not amenities and other arrangements and so, say various developers interviewed, the best way for them to close the deal without skewing condo appraisal values, is to throw in other things.

Knowing that while interest rates are still relatively low, bankers are reluctant to loan as easily due to the flurry of foreclosures when ARMs and other rate increases and balloon payments were due and mortgagees couldn't pay, developers are financing all or part of the costs.

Get your developer to pay other up front costs not discussed when the sellers ran the show, such as parking, condo or other fees.

Walk into negotiations with a win-win list. Know what you need and eant. Visit other buildings in the area to learn what competition is offering. Inform your real estate agent what your bottom-line. Be prepared by knowing what condos have sold for in the building and anything you can find out about amenities and deals other residents made. Don’t be shy about stopping a resident to ask about the building so you can determine what to add to the list. Frame everything in terms that will help the developer feel assured you are ready to sign and that what might have been unthinkable earlier is the carrot that can bring in the dough. Make sure a lawyer reviews the terms before signing.

If you're among the first to buy in a building, you've got another feature that places you in the driver's seat. Developers want to sell fast to illustrate the building is becoming a home and residents are happy. If you're among the last, the developer has one foot out the door–he or she sees you as the opportunity to call the building a success and move on.

The highest quality amenities, such as Jacuzzis, granite counters, stainless steel appliances and large-capacity refrigerator/freezers, thickly insulated windows, designer lighting, carpet, tiles, hardwood floors, premium hardware and cabinetry, and gas fireplaces have begun to be considered basic now in luxury Washington, DC, condos for sale.

Think creatively. Would French doors inspire you and fit to close off the dining room? They'll surely add value. Like the furniture in the model more than yours? Solar or black-out shades can help you control your environment while towel warmers offer personalized luxury. Especially if you're among the last to buy, that'll be as easy as pie for the developer to make yours.

Visit a fine decorating and home remodeling store and ask sales staff about the newest and most appealing offerings. Negotiate for a Washington, DC, condo for sale and the finest could be yours.

Washington DC Condos For Sale